Bassett Furniture Industries, Incorporated

Detailed Description

Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates through three segments: Wholesale, Retail –company-owned Stores, and Logistical Services. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned retail stores and licensee-owned stores, and independent furniture retailers; and wood and upholstery operations. As of November 27, 2021, it operated a network of 63 company-owned stores and 34 licensee-owned stores. It also provides shipping, and warehousing services to customers in the furniture industry. In addition, the company owns and leases retail store properties; and distributes its products through other multi-line furniture stores, Bassett galleries or design centers, mass merchants, and specialty stores, as well as sells its products online. Bassett Furniture Industries, Incorporated was incorporated in 1902 and is based in Bassett, Virginia.

Product & Services

Home furnishings and fixtures

Key People

Founder(s): J. D. Bassett, Charles C. Bassett, Samuel H. Bassett, and Reed L. Stone

Robert H. Spilman Jr. (CEO)

Financials

Revenue: US$ 452.5 million (2017)

Operating income: US$ 27.02 million (2017)

Net income: US$ 18.26 million (2017)

Total assets: US$ 293.75 million (2017)

Total equity: US$ 191.46 million (2017)